New IMF Managing Director Christine Lagarde has to move quickly to establish independence from the European authorities who got her the job, enhance the IMF's legitimacy, and display her ability to manage the fund, says CFR's Steven Dunaway.

Benn Steil's op-ed in the May 24th edition of the Financial Times, co-authored with Manuel Hinds, examines what it would mean for the United States to be obliged to function, like most of the world, without an internationally accepted money. They show why the U.S. not being able to pay its foreign debts in conjured currency would, contrary to Paul Krugman's view, be a big deal.

Masaaki Shirakawa, governor of the Bank of Japan, discusses the effects the March earthquake, tsunami, and events surrounding the Fukushima Daiichi nuclear power plant had on the Japanese economy, as well as the resilience and adaptability of the Japanese people.

Masaaki Shirakawa, governor of the Bank of Japan, discusses the effects the March earthquake, tsunami, and events surrounding the Fukushima Daiichi nuclear power plant had on the Japanese economy, as well as the resilience and adaptability of the Japanese people.

This meeting was part of the C. Peter McColough Series on International Economics.

Masaaki Shirakawa, governor of the Bank of Japan, discusses the effects the March earthquake, tsunami, and events surrounding the Fukushima Daiichi nuclear power plant had on the Japanese economy, as well as the resilience and adaptability of the Japanese people.

This meeting was part of the C. Peter McColough Series on International Economics.

China's policy of holding down the value of its currency and monetary easing in the United States have led to large capital inflows into emerging economies. Although consensus in emerging markets has formed around capital controls, Francis E. Warnock challenges their underlying assumptions.

CFR Experts Guide

The Council on Foreign Relations' David Rockefeller Studies Program—CFR's "think tank"—is home to more than seventy full-time, adjunct, and visiting scholars and practitioners (called "fellows"). Their expertise covers the world's major regions as well as the critical issues shaping today's global agenda. Download the printable CFR Experts Guide.

The authors argue that the United States has responded inadequately to the rise of Chinese power and recommend placing less strategic emphasis on the goal of integrating China into the international system and more on balancing China's rise.

Campbell evaluates the implications of the Boko Haram insurgency and recommends that the United States support Nigerian efforts to address the drivers of Boko Haram, such as poverty and corruption, and to foster stronger ties with Nigerian civil society.

2014 Annual Report

Learn more about CFR’s mission and its work over the past year in the 2014 Annual Report. The Annual Report spotlights new initiatives, high-profile events, and authoritative scholarship from CFR experts, and includes a message from CFR President Richard N. Haass.Read and download »